Binance burned $740 million in BNB tokens

20.04.2022 11:07
by Artem Ustinov
1 min read

Binance burned $740 million in BNB tokens

Cryptocurrency exchange Binance has completed its 19th quarterly Binance Coin token burn using the Auto-Burn mechanism.

1,839,786 BNB has been withdrawn from circulation, equivalent to $741.8 million. The Pioneer Burn program burned 9,403 BNB. Binance burned 1,684,387 BNB for a total of $795 million in January 2022.

Binance has abandoned the concept of quarterly destruction of BNB in favor of the Auto-Burn mechanism for their automatic withdrawal from circulation.

Author

  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

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